Dow Will Hit 10,000 By Year-End: Strategists

Stocks are taking a breather Monday, but the direction of the Dow toward 10,000 continues. How long will it be before the level is broken and what will that mean for stocks going forward? Craig Peckham, equity trading strategist at Jeffries & Co., and Michael Cuggino, president and portfolio manager at Permanent Portfolio Funds, shared their market and investment insights. (Scroll down for their stock and sector picks.)

“My bigger question is that when we see earnings results in the third quarter—the bar has been raised pretty dramatically and the expectation is for a much more significant improvement in the topline from corporate America," Peckham said.

"So it’s imperative that we have a real good sense of where expectations lie going into the third quarter, relative to stock prices.”